For investors seeking momentum, Roundhill BITKRAFT Esports & Digital Entertainment ETF NERD is probably on radar. The fund just hit a 52-week high and is up 131% from its 52-week low price of $11.91/SHARE.But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:NERD in FocusThis fund targets the growing market of electronic sports, or “esports,” including video game publishers, streaming network operators, video game tournament and league operators/owners, competitive team owners, and hardware companies. American and Chinese firms account for 25.5% and 24.8% share, respectively, while Taiwan and Sweden round out the next three spots. The ETF charges investors 50 bps in annual fees (see: all the Consumer Discretionary ETFs here).Why the Move?The esports corner of the broad stock market has been an area to watch lately given the surge in coronavirus cases, which has resulted in the prospect of lockdown measures. This has compelled investors’ to stay at home once again thereby raising the demand for esports and video gaming as an entertainment.More Gains Ahead?It seems that NERD might remain strong given a high weighted alpha of 88.18 and a low 20-day volatility of 32.95%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.(We are reissuing this article to correct a mistake. The original article, issued on November 20, 2020, should no longer be relied upon.)Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roundhill BITKRAFT Esports & Digital Entertainment ETF (NERD): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report